PR Newswire | 05 May, 2015
LONDON: The coronary stent market in India, which comprises Drug Eluting Stent (DES), Bare Metal Stent (BMS) and Bio-Absorbable Stent (BVS), was valued above $400 million in 2012. DES accounts for bulk of sales in India. The bio-absorbable stent ABSORB has garnered a considerable traction despite its high cost compared with the other available DES. The key players operating in the segment are Alvimedica, Abbott Vascular, a division of Abbott Laboratories (NYSE : ABT), Boston Scientific (NYSE : BSX, LSE : BSX), Biosensors Inc., Biotronik, JW Medical, Medtronic, Inc. (NYSE : MDT), Meril Life Sciences, MicroPort Scientific Corporation (HKG: 0853), Sahajanand Medical Technologies and Translumina Therapeutics.
The market has grown impressively supported by a rise in coronary angioplasties which has resulted from a surge in cardiovascular diseases (CVDs), augmented healthcare spending as well as an increase in number of interventional cardiologists and cath labs in government and private hospitals, including individual cath lab centres run by interventional cardiologists as well as new corporate hospitals.
The demand has surged as central and state governments capped reimbursement rates which enhanced affordability resulting in an increase in volume. The decrease in reimbursement rates has given an edge to Indian, Asian and some of the Europe-based mid-sized MNCs which sell stents at almost half the price of those sold by US companies.
"In the US, the stents market has slumped significantly due to negative results from clinical studies suggesting that one-third of stent implants are unnecessary. However, in India these studies have not made an impact as most Indian cardiologists do not seem to have taken these clinical outcomes seriously," said Manoj Jiandani, CEO, ABMRG.
'India Coronary Stent and Angioplasty Market Through 2020 (Cath Lab Level Information-City, State and National)', is a market report published recently by ABMRG. It reviews historical trends and forecasts (between 2007 and 2020), annualised sales, market size (value and units), market growth, pricing, competitive landscape and market share.
The research report covers 700 cath labs across the country. It analyses angioplasty procedures' (PCI and PTCA) data for the country with a detailed analysis at national, state, district, city and hospital levels. It provides PCI data of 550 hospitals from more than 150 cities. "No one has covered cath labs in India like us," Jiandani said.
The report offers a proprietary cross-category comparison for products and geographies for the historical and forecast period. It also lists strategic developments in the global industry over the last two years, including M&As, partnerships, clinical studies, pipelines (R&D), product approvals and launches, recalls and litigations, market dynamics, market drivers and restraints.
Why one should buy this report
The report can be instrumental in formulating strategic decisions to:
Make a regional strategy based on regional landscape and market characteristics.
Capitalise on opportunities in high-growth angioplasty regions/markets.
Plan capital investments based on the forecast for high angioplasty markets.
Prepare strategic presentations for the management, investors and shareholders.
Other strategic market reports:
Global Coronary Stent Market Outlook Through 2019
EU-7 Coronary Stents Market Outlook Through 2019
European Interventional Cardiology Market through 2020
ABMRG (Ace Business and Market Research Group) is a research and consulting firm focused on life sciences. It offers comprehensive research and analytical studies targeting various therapeutic sectors and its market dynamics, vital trends, business strategies and clinical pipeline. Its cutting edge reports empower companies to make smarter, effective and faster strategic decisions for business growth.
firstname.lastname@example.org ; email@example.com